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Debunking eight falsehoods by Pacific Rim Mining/Oceana Gold in El Salvador
Tuesday, March 18, 2014
A battle has emerged over the free trade agreements’ egregious rules that grant giant corporations unreasonable powers to subvert democracy. These rules, dubbed “investor rights” by the corporations, allow firms to sue governments over actions—including public interest regulations—that reduce the value of their investments.
Oxfam, the Institute for Policy Studies, and four other non-profits are releasing a new study that explains why these rules are so dangerous to democracy and the environment.
Mar 18 - In 2009, Pacific Rim launched a multi-million dollar lawsuit against El Salvador in a World Bank arbitration tribunal for not having granted the company the permit to put its El Dorado mine project into operation…
Pacific Rim never fulfilled the necessary requirements to obtain its permit…
Furthermore, communities in the surrounding department of Cabañas - and most Salvadorans - do not want mining in their country. As the smallest and most densely populated country in Latin America with already stressed water supplies, Salvadorans are unwilling to face the risks that industrial metal mining represents… The company’s lawsuit aims to undermine public debate and to contain democratic public policy-making…